Karachi – April 16, 2025: Gold prices in Pakistan soared to an all-time high on Wednesday, nearing the crucial psychological threshold of Rs350,000 per tola amid ongoing global market turmoil.
The latest rally saw the price of 24-karat gold rise by a staggering Rs8,600 in a single day, settling at Rs348,000 per tola — up from the previous close of Rs339,400.
This marks a significant surge in the local bullion market, breaking the previous record of Rs340,600 per tola set just days ago on April 12. Market analysts noted that the steady climb in gold prices is being driven by international developments, including growing geopolitical tensions and economic uncertainty triggered by new trade tariffs introduced by the U.S. government.
The rate for 24-karat gold per 10 grams also jumped sharply, climbing Rs7,373 to reach Rs298,353 from the prior day’s closing price of Rs290,980.
Bullion dealers in Pakistan cited investor anxiety and the global rush toward safe-haven assets as key reasons behind the upward trend. “Gold is seen as a hedge against inflation and instability. With rising fears in the international markets, demand is pushing prices higher across the board,” said one Karachi-based dealer.
Meanwhile, in the international market, gold prices surged to an unprecedented $3,310 per ounce, up by $86 from the previous day’s rate of $3,224. The steep incline in international bullion prices directly impacted domestic rates in Pakistan, where gold is considered a traditional store of value and a preferred investment during economic uncertainty.
This marks the fifth time in the past month that gold prices in Pakistan have posted record-breaking gains, with each spike drawing increased attention from both investors and policymakers. As gold continues its rally, many are closely watching whether it will breach the Rs350,000 per tola mark — a level seen as both symbolic and consequential for Pakistan’s financial market.